Capital Markets Union – Promising Prospects for Corporate Financing?

Autor:	Simon Schumacher, Stephan Paul
Rok vydání:	2017
Předmět:	Corporate finance 050208 finance Consistency (negotiation) Public economics 0502 economics and business 05 social sciences General Engineering Psychological intervention Production (economics) Business 050207 economics Economic system Capital market
Zdroj:	Schmalenbach Business Review. 18:289-304
ISSN:	2194-072X 1439-2917
Popis:	This paper examines the implications of the Capital Markets Union (CMU) for corporate financing. Targeting the convalescence of European economic growth, this major regulatory project significantly changes the financial environment faced by European companies. We use a three-step approach to assess whether the CMU opens promising prospects for corporate financing. We consider the objectives’ consistency and desirability first, the justification of market interventions second and the reforms’ effectiveness and efficiency third. Our findings are mixed. The reforms are justified and effective and strive toward sound objectives. Their efficiency depends on the final design though. The CMU’s overall benefit thus remains to be seen.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::92bcb03301a30d75282f72eb1e81676a https://doi.org/10.1007/s41464-017-0035-x Zobrazit plný text záznamu Full text from SpringerLink